Diversification of growth process can be achieved through the development of:

1. Agricultural sector.
2. Industrial sector.
3. Foreign trade.
4. Service sector.

The starting of land reforms programmes was set up in the right direction but it could not make much progress because of:

1. Lack of political will.
2. Malafide transfers.
3. Inadequate proof of tenants.
4. All the above.

Which factor led to the breaking up of the stagnation of agriculture?

1. Land reforms.
2. Green Revolution.
3. Buffer stocks.
4. Land ceiling.

When was planning initiated in India?

1. In 1951
2. In 1952
3. In 1950
4. In 1956

Fill in the blank with correct alternative.
First Industrial Policy Resolution of Independent India was announced in the year ________.

1. 1947
2. 1948
3. 1951
4. 1956

What is meant by GDP?

1. It refers to total value of investment made in a year.
2. It is sum total of all final goods and services produced in an economy in a financial year.
3. It is national Income divided by population.
4. It is foreign investment made in a year.

The Planning Commission was set up in:

1. 1948
2. 1950
3. 1951
4. 1956

Under which system the goods are distributed among people not on the basis of what people need but on the basis of purchasing power?

1. Capitalistic system.
2. Socialistic system.
3. Mixed system.
4. Dual system.

Which economic system is based upon the market forces of demand and supply?

1. Capitalism.
2. Socialism.
3. Mixed.
4. Monarchy.

Who takes the decisions regarding production and distribution of commodities in a socialist economy?

1. Market forces of demand and supply.
2. Government.
3. Both a and b in a combined way.
4. God.